Taro Pharmaceutical Industries Ltd (Taro) develops, manufactures and commercializes generic, branded prescription (Rx) and OTC (over-the-counter) pharmaceutical products. It also develops and manufactures APIs for use in its finished dosage-form products.

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Taro's R&D activities focus on three principal areas, generic pharmaceuticals, proprietary pharmaceuticals and delivery systems, and organic and steroid chemistry. As of FY2023, the company employs 17% of its employees for research and development activities. The company has received four ANDA final approvals and three tentatively approved products in the year ended on 31st March 2023. In FY2023, the company spent US$52.2 million on its R&D.